Merit Forex Review

Merit Forex Logo

Merit Forex is an online trading that was founded in 2016 and operates from Vanuatu where it was registered. The broker offers over 80 financial instruments across different asset classes, including forex, indices, commodities, cryptocurrencies, and metals, for trading online via the ever-popular MT4 and MT5 trading platforms. Merit Forex is committed to creating outstanding trading conditions and excellent brokerage services.

Merit Forex Review - Broker Features
Merit Forex Review – Broker Features

Merit Forex Platforms & Tools

Merit Forex provides the two most sophisticated trading platforms for forex and CFD trading: MT4 and MT5 trading platforms.

Merit Forex Review - MT5 Platform
Merit Forex Review – MT5 Platform

The MetaTrader 4 (MT4) trading platform was developed by MetaQuotes, a Russian Software Company in 2005, and has grown massively to become the industry-standard trading platform for online forex and CFD trading owing to its multiple features and capabilities. It supports the use of Expert Advisors (EAs) for automated trading. Perhaps, one of the most useful features of the MT4 platform is that its functions can be extended with plugin apps.

The MT5 trading platform, which was developed later in 2010 by the same company to succeed MT4, has similar features, interface, and capabilities but with more functionality and can also be extended with plugin apps.

Merit Forex Review - Mobile Trading Apps
Merit Forex Review – Mobile Trading Apps

Both the MT4 and MT5 trading platforms are available in the desktop (Windows and Mac), web, and mobile versions (Android and iOS) versions.

Traders are also given access to a range of trading tools, such as Copy Trading, One Billion Signals, Weekly Outlook, Market Notes, and Market News.

Merit Forex Research & Education

The education section of the Merit Forex website contains some articles, a trading glossary with over 120 terms associated with the financial markets and their detailed definitions, and an FAQ section that tends to answer all the several questions that clients might want to ask. There is also a trading blog.

Merit Forex Review - Market News
Merit Forex Review – Market News

Merit Forex Trading Accounts

The trading account types offered by Merit Forex include the Standard, EA Robot, Gold, and VIP Accounts. The minimum required deposits range from $250 on the standard account to $10,000 on the VIP account. The trading conditions are favorable, with low spreads starting from 0.4 pips and a leverage of up to 1:200. Swap-free Islamic Accounts that comply with the sharia are available upon request, while demo accounts are provided for practice purposes.

Merit Forex Account Funding

The following payment methods are available at Merit Forex:

  • Bank transfer
  • Credit/Debit Cards
  • e-Wallets
  • Cryptocurrency
Merit Forex Review - Payment Options
Merit Forex Review – Payment Options

Merit Forex Customer Service

The broker’s customer support team is available 24/5 to assist traders with any general, technical, or account-based inquiries they may have. They can be reached via telephone, email, Contact Us Form, online chat, and selected social media channels.

Merit Forex Regulation

Merit Forex is owned by ‘Merit Financial Services Ltd, which is a company registered in the Republic of Vanuatu with registration number 14787. It is licensed and authorized by the Vanuatu Financial Services Commission (VFSC).

Merit Forex Review Summary

In brief, Merit Forex is an online trading broker that is based in Vanuatu and offers multiple financial instruments for online trading via multiple sophisticated trading platforms. Clients also benefit from a range of useful trading tools, educational resources, and a knowledgeable customer support team. There are also multiple account options to meet the trading needs of traders.

 

Merit Forex

7

Spreads

7.5/10

Liquidity

7.5/10

Commissions

7.5/10

Support

7.5/10

Regulation

5.0/10

Features

  • Sophisticated trading platforms
  • A range of useful trading tools
  • A good selection of educational resources
  • Multiple financial instruments